LWRF.L Regulatory News (LWRF)

1 July 2015

LightwaveRF Plc

(AIM: LWRF)

Trading Update

LightwaveRF plc ("LightwaveRF" or the "Company"), the creator of the LightwaveRF Smart Home Platform and products for the Internet of Things enabling households and businesses to remotely operate and control lighting, power, heating and security using smartphones, tablets, PC and MAC applications, today gives the following trading update.

The company continues to make significant progress with existing and new customer relationships and its sales proposition. Some of these have required modifications and developments to enhance product capability which in the short term is holding back revenue. As a result, with three months to go before year end the company now expects short term revenues to be constrained relative to current market expectations. Revenue and losses for the year to 30 September are now anticipated to be broadly similar to last year. As noted in the interim statement, revenue last year benefited from stocking up by UK distributor, Megaman. Sales of product by Megaman continue to show significant year on year growth.

The Company has recently signed Heads of Terms with global electrical company, Havells, to integrate LightwaveRF in to a cooling, lighting and power product range. Assuming contractual terms are agreed, the intention is to launch the product range in its domestic Indian market before the end of 2015.

LightwaveRF has now completed the development of its Building Management Solutions (BMS) software which offers dashboard style control and monitoring of all aspects of building energy consumption and management. A demonstration video of the system capabilities is available on the Company's website at lightwaveRF.com. The directors are confident of making commercial sales of its BMS in the coming months.

Commenting Mike Lord said "Although these short term revenue constraints are holding back our financial progress this year the opportunities for the business are more numerous than ever our confidence for the future progress of the business remains strong"

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